An Excerpt From A Patch.com Article I Contributed Information That Described The “Woes” Of This Wobbly Real Estate Market

After investing about 30 minutes the other day learning about the “doings” of the Greater Boston real estate market with Medea Palandjian of MedeasHomes.com, I feel fully confident that this article/blog post is going to validate just how crazy the world of local real estate acquisitions is right now in the Greater Boston area.  According to Medea: Belmont, Watertown, Newton, and Arlington are all seeing record highs being hit these days!

So, if you are in the market for buying or selling a home soon right now, you’re going to “eat up” every word from this point forward.  And if you’re reading this piece right now, I’d image that you are probably aware that the number of cash-in-hand, pre-qualified buyers running around this area is off the charts.  If you want to win big on the newest home of your dreams, I’d like to share a few statistics.

Since February, 18 of the 20 properties that were listed by all of the associated agents in our office went under-agreement in less than seven days. Moreover, the selling price on those same homes have been an average of 5% over the asking price. And in some instances, the selling price was as high as 20% or above.

One final “insider-fact” about those same 20 houses listed by our team; the average crowd of potential buyers at the open house viewings has been 75… sometimes it’s been over 120. And just this past weekend a colleague working with Medea listed a multi-family home in Watertown that saw 300+ attendees at her open house. Incredible!!!

“There’s No Better Time To Test The Uncommon”

Obviously, there’s a lot to talk about in the real estate world these days.  But in an effort to bring buyers and sellers from clutter to clarity; here’s 3 home buying/selling tips to make matters better:

1. Buyers need to be prepared to come with a stern offer – Being basic simply isn’t “cutting it” right now.  With the erratic purchasing patterns of the last 2 months, MANY realtors (and buyers) have become frustrated with the lack of supporting comparables and beyond a low amount of available inventory.
2.  Be prepared for a bidding war–  Medea recently had a client offer $25,000 over asking price and was going to put 35% down on a condo in Belmont… The result:  this client was NOT even considered a viable candidate.
3. If you’re “on the fence” about selling, just list your home already – Average properties are selling for unearthly prices right now.  This is why it’s MORE important than ever that you work with an agent that knows how to handle the turbulent times of today’s marketplace.

Because the spring season typically sees the most sales transacted in the Boston/Metro-West area, I hope this informative piece helped “wake you” up to the woes of this wobbly real estate market.  Taking massive action is everything these days.  Good luck with that 🙂

To relentlessly focusing on the best deal for you in 2019,

Greater Boston Real Estate Authority
Quality Service Pinnacle Award Winner
(617) 775 – 9167 | Click To Email Me

PS – If you would like advice on your particular situation just let me know.

I am currently working with dozens of buyers right now that are realizing just how important it is to align with a real expert.